Tracxn - eSports Startup Landscape

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - eSports - Apr 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on April 22, 2019.
eSports Feed Summary
4
eSports > Feed Summary
Video game tournaments, typically played between professional gamers, and the companies involved in developing,
organizing, and propagating them.
• Inclusions: All online and offline players who
contribute to the eSports ecosystem and enable live
gameplay and distribution worldwide. Includes
eSports game developers, platforms (tech solutions
which help in organizing and running tournaments),
broadcasters (live and direct to audience), league
organizers and player organizations.
• Exclusions: Horizontal gaming companies whose
primary focus is not on eSports.
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$4.6B
Funding
19
Mega
Companies
241517
FundedCovered on
Tracxn
7
Unicorns
11
Soonicorns
15
Minicorns
9
IPO’d Cos
70
Late Stage Cos
12
38
Acquisitions
87
DeadPooled
-
Acquihired
Series A+ Cos
Valve
(1996, Bellevue)
Twitch
(2011, San Francisco, $35.1M)
Epic Games
(1991, Cary, $1.6B)
Top Companies

Investment Trend Summary
Summary of Funding Activity in eSports
5
$1.2B - PE
Epic Games (1991, Cary, $1.6B)
$50M - Series D
Discord (2012, San Francisco, $280M)
$391M - Series E
Garena (2009, Singapore, $563M)
$37M - Series B
SoloMid (2009, San Francisco, $62M)
$150M - Series E
$37M - Series A
TSM (2009, Los Angeles, $37M)
$53.6M - Series B
Cloud9 (2013, Santa Monica, $101M)
$30.5M - Series B
PlayVS (2015, Detroit, $46M)
$51.1M - Series B
Nazara (2000, Mumbai, $102M)
$27.9M - Angel
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
eSports > Feed Summary > Investment Trend Summary
Seed CourtsideVC (#4), Deep Space Ventures (#4), First Round Capital
(#3)
Series A/B Crosscut (#3), Advancit Capital (#3), Samsung NEXT (#3)
Series C+ Index Ventures (#1), Spark Capital (#1), GDP Venture (#1)
Incubators BITKRAFT (#10), Y Combinator (#8), 500 Startups (#7)
Other Notable
Investors
FundersClub (#3), Kakao Ventures (#3), CAA Ventures (#3)
Debt Investors Western Technology Investment (#1), KKR (#1), Trifecta Capital
(#1)
Most Active InvestorsRecent Investments
66
84
74
63
25
5
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 21 40 44 53 56 16
$3.6B
$575M
$187M
$125M
$37.9M
US
SEA
Europe
India
Israel
$ Funding
$81M
$161M $161M
$556M
$779M
$1.8B
$244M
48
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in eSports
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Tencent 4
Benchmark 2
Riot Games (2006, San Francisco, $15M)
FirstMark 2
Band of Angels 1 Ustream (2007, San Francisco, $48.6M)
Singapore
Government
1 Garena (2009, Singapore, $563M)
Feb 2017 Hattrick Sports Group Acq by Fortuna for $89.5M
Sep 2016 Pixonic Acq by Mail.Ru for $30M
Jan 2016 Ustream Acq by IBM for $130M
Jan 2016 MLG Acq by Activision for $46M
Jul 2015
Turtle Entertainment Acq by Modern Times Group
for $87.2M
Aug 2014 Twitch Acq by Amazon for $970M
eSports > Feed Summary > Exit Outlook Summary
Gamurs 3
Dot Esports (Oct 2016), eSports (Aug 2016), eSportsNation
(Apr 2016)
Unikrn 2 ChallengeMe (Apr 2018), Leetcoin (Apr 2017)
Cineplex 2 eSports (Sep 2015, $10M), WorldGaming (Sep 2015)
Microsoft 1 Mixer (Aug 2016)
IBM 1 Ustream (Jan 2016, $130M)
Recent IPOs Top Acquisitions
Pinnacle Aug 2006
Online eSports betting platform
IPO MCap: -
Gfinity
eSports league organizer
IPO MCap: -
Bandai Namco Entertainment
Video game developer and publisher
IPO MCap: -
WorldGaming
Real cash eSports platform
IPO MCap: -
Super League Feb 2019
eSports tournament organizer
IPO MCap: $91.7M
Versus Systems Jul 2016
Competitive gaming platform for gamers
IPO MCap: -
Millennial Esports Mar 2012
Canada based e-sports organization
IPO MCap: $2.2M
eSports Mogul Oct 2011
esports media and software company
IPO MCap: $6.6M

Marketmap: eSports
BROADCASTERS
FOR AMATEURS
REAL MONEY GAMING*
FREE-TO-PLAY
TOURNAMENTS
BETTING
ESPORTS FANTASY*
MEDIA
FOR PROFESSIONALS
PLAYER ORGANIZATION*
LEAGUE ORGANIZERS
ANALYTICS & TOOLS
COACHING*
GAME DEVELOPERS
MOBA FPS
Overview
Companies 517
Funded 241 Series A+ 70
Funding $4.6B Last 2 yrs $2.6B
Most Active Investors
Seed CourtsideVC (4)
Series A/B Crosscut (3)
Series C+ Index Ventures (1)
Others FundersClub (3)
Incubators BITKRAFT (10)
Top Cities
Cary 1 Cos $1.6B
Bay Area 45 Cos $796M
Feed in Numbers
Unicorns 7 Soonicorns 11
Minicorns 15 Editor Picks 64
Acquihired - Deadpooled 87
Top Companies
Twitch (2011, San Francisco,
$35.1M)
Valve (1996, Bellevue)
Exits
IPOs 9 Super League, eSports Mogul
Acquisitions 38 Twitch, Ustream
Top Acquirers Gamurs, Unikrn
eSports > Feed Summary > BlueBox
* Upcoming Business Model
FACTSHEET
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
7

Key Sub Sectors in eSports Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
League Organizers 61 $513M 15
Enablers >
Analytics & Tools 47 $246M 19
Player Organizations 36 $277M 15
eSports Platforms > Competitive Gaming >
Real Money Gaming 78 $88.3M 19
Broadcasters >
Live Streaming 37 $29.6M 7
Enablers 26 $63.4M 5
eSports Platforms >
Competitive Gaming 20 $56.7M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Game Developers
Video game developers and creators of eSports games
52 33 $2.2B
League Organizers
Organizations which create and run leagues and
eSports tournaments
61 28 $1B
Enablers
Companies which help further the eSports ecosystem
through various tools
152 71 $560M
Player Organizations
Team organizations which employ train eSports
gamers to compete
36 16 $294M
eSports Platforms
Technology solutions which help in running
tournaments and involve all stakeholders
173 68 $274M
Broadcasters
Online and offline players who broadcast live matches
and practice videos to the audience
43 25 $229M
eSports > Feed Summary > Summary of Key Markets

List of Notable Companies in eSports
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
eSports > Feed Summary > Notable Companies in the Sector
Public
Super League
(2014, Santa Monica, $31M)*
eSports Mogul
(2016, Perth)
Millennial Esports
(2016, Toronto)
Versus Systems
(2014, Los Angeles)
Bandai Namco
Entertainment
(1955, Tokyo)
Gfinity
(2013, London)
Pinnacle
(1998, Groveport)
The Farm 51
(2005, Gliwice)
WorldGaming
(2010, Toronto)
Acquired
Twitch
Riot Games
(2006, San Francisco, $15M)
Ustream
Unicorns
Epic Games
(1991, Cary, $1.6B)
Garena
(2009, Singapore, $563M)
ZeniMax
(1999, Washington D.C., $471M)
Discord
Hero Entertainment
(1993, Owings Mills, $228M)
Smilegate
(2002, Seongnam-si)
Valve
(1996, Bellevue)

List of Notable Companies by Market in eSports
Notable Companies by Market (1/4)
11
eSports > Feed Summary > Notable Companies by Market
Game Developers
MOBA
Super Evil Megacorp (2012, San Mateo,
$63.2M)
Mobile game developer specializing in the core
games
Soonicorn. Stage: Series B
Index Ventures, Korea Investment Partners, Breyer
Capital and 6 Other Investors
Video game developer and eSports tournament
organizer
Soonicorn. Stage: Acquired
Tencent, Benchmark, FirstMark and 2 Other
Investors
Valve (1996, Bellevue)
Game developer and publisher
Unicorn. Stage: Unfunded
Bandai Namco Entertainment (1955, Tokyo)
Stage: Public
FPS
Cross platform game engine and game developer
Unicorn. Stage: Funded
KKR, Iconiq Capital, Kleiner Perkins and 7 Other
Investors
ZeniMax (1999, Washington D.C., $471M)
Game development and publishing company
Unicorn. Stage: Series E
Providence Equity Partners
Smilegate (2002, Seongnam-si)
Smile Gate Investment
The Farm 51 (2005, Gliwice)
VR game and content development studio
Stage: Public
eSports Platforms
Competitive Gaming
Skillz (2012, Boston, $51.5M)
eSports gaming platform for the mobile games
Soonicorn. Stage: Series C
PROOF.VC, Liberty Global, Andy Miller and 9 Other
Investors
G loot (2013, Stockholm, $42.7M)
Online eSports competitive gaming platform
involving real money
Swedbank Robur, Norron, Inbox Capital and 5
Other Investors
Versus Systems (2014, Los Angeles)
Editor's Pick. Stage: Public
Kingsdale Capital, Haywood, Canaccord Genuity
Group and 2 Other Investors
eSports Mogul (2016, Perth)
Stage: Public
Razer, Aetius Capital

12
eSports Platforms
Competitive Gaming
WorldGaming (2010, Toronto)
Stage: Acquired
Social Leverage
Betting
Pinnacle (1998, Groveport)
Stage: Acquired
Broadcasters
Live Streaming
Ustream (2007, San Francisco, $48.6M)
eSports video streaming platform
Stage: Acquired
Moonshots Capital, DCM Ventures, Band of Angels
and 9 Other Investors
Twitch (2011, San Francisco, $35.1M)
Live and on-demand eSports and video games
streaming website
Thrive Capital, WestSummit, Take-Two Interactive
and 8 Other Investors
Kamcord (2012, San Francisco, $34.8M)
Platform for recording and sharing for the mobile
gameplay
Time Warner, Tencent, TransLink Capital and 23
Other Investors

13
Enablers
Enablers
AXiomatic (2015, Los Angeles, $51M)
eSports and video game enabler
Soonicorn. Stage: Seed
Michael Jordan, David Rubenstein, Curtis Polk and 3
Other Investors
Analytics & Tools
Voice and text chat software for the eSports gamers
Greenoaks, Technology, Index Ventures and 11
Other Investors
League Organizers
League Organizers
Gaming platform provider and eSports league
organizer
GDP Venture, Farallon Capital Management,
Hillhouse Capital Group and 12 Other Investors
Hero Entertainment (1993, Owings Mills,
$228M)
E-sports event management company
Huayi Brothers Media Group, ZhenFund, Sequoia
Capital
Mobile game publisher
ESLGaming, JetSynthesys, LNB Group and 37 Other
Investors

14
League Organizers
League Organizers
Super League (2014, Santa Monica, $31M)
Stage: Public
Nickelodeon, DMG Entertainment, Toba Capital and
5 Other Investors
Gfinity (2013, London)
Stage: Public
M D Barnard & Co, Hargreave Hale, Herald
Investment Management
Millennial Esports (2016, Toronto)
Stage: Public
American eSports player organization
Valor Equity Partners, TrueBridge Capital Partners,
Robert Hohman and 13 Other Investors
Esports player organization
Soonicorn. Stage: Series A
Bessemer Venture Partners, stephen Curry, Andre
Iguodala and 7 Other Investors
cybersport.ru (2003, Moscow)
eSports tournament organiser and broadcasting
network
USM

List of Notable Companies in eSports in China
Notable Companies in the Sector in China
15
eSports > Feed Summary > Notable Companies in the Sector in China
Acquired
Longzhu
(2014, Shanghai, $44M)
Unicorns
Douyu TV
(2013, Wuhan, $958M)

Recent News in eSports Sector
Recent News
16
eSports > Feed Summary > Recent News
Apr 2019
JetSynthesys forays in casual gaming segment with launch of Ludo
Live: World Tour, Indiatimes
Apr 2019 Iraq bans PUBG, Fortnite, GamesIndustry
Apr 2019
Streamlabs: Twitch is still streaming king, though YouTube is
gaining ground, GamesIndustry
Apr 2019
Iraq moves to ban online game PUBG for ‘inciting violence’,
NewsNation Network
Apr 2019
All Esports, All the Time: Esportz Entertainment Corp. Creates A
New Level of Engagement for All Things Esports to Meet A Growing
Global Demand for Quality Esports Content, PR Newswire
Apr 2019
Fortnite’s new update lets you pet dogs (and other animals),
iCrowdNewswire
Apr 2019 Epic Games Is Upgrading Your Epic Account Security, PCMag
Apr 2019 DHL partners with Electronic Sports League, Indiatimes
Apr 2019
Fortnite and Apex Legends propel Twitch to 2.7 billion hours
watched in Q1 2019, VentureBeat
Apr 2019
New Fortnite Mobile iOS Update Now Working: Here’s What’s New,
ValueWalk
Apr 2019
Fortnite 8.40 Patch Notes Reveal Air Royale, Food Fight Deep Fried
Limited Time Modes, New Delhi Television
Apr 2019
Iraq considers ban on ‘Fortnite’ and other ‘violent’ videogames, The
Star Online
Key Recent News Key Recent News
Apr 2019
DreamHack enters global streaming partnership with Caffeine,
Esports Insider
Apr 2019 DreamHack enters content partnership with Sport1, Esports Insider
Apr 2019
POKKT sets new digital advertising benchmark along with Nazara,
Indiatimes
Apr 2019
Gears 5 multiplayer to debut in new Eleague TV series on TBS,
VentureBeat
Apr 2019
Mozilla’s Web-Based VR Platform Hubs Adds Discord Support,
VRFocus
Apr 2019
Valve sued for illegal gambling by casino operator, Quinault Nation,
MCV
Apr 2019
From pixels to the past: Games firm helps preserve Korean cultural
heritage, Korea Herald
Apr 2019
Millennial Esports Announces Filing of Financial Statements and
Lifting of Cease Trade Order, Investing News
Apr 2019
Infinity Ward and Respawn co-founder Jason West has joined Epic
Games, techkenyot.com
Apr 2019
Twitch’s first game, the karaoke-style ‘Twitch Sings,’ launches to
public, TechCrunch
Apr 2019
Avengers: Endgame Mode Could Be Introduced In Fortnite With
Thanos’ Return: Report, Digit
Apr 2019
Chipotle, DreamHack and ESL Team Up To Launch Esports
Competition, Metro Atlanta CEO
Apr 2019 ESL announce extended partnership with MSI, Esports Insider

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
17
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in eSports; 2012-2019
Global Funding Trends (1/2)
19
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
eSports > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 12% # of Rounds31% $ Funding
28% # of Rounds
125% $ Funding
$81M
$358M
$59M
$161M $161M
$556M
$779M
$1.8B
$244M
0
10
20
30
40
50
60
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
$1.8B
$2.B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

8 8 10 24 25 27 30 9
4
6 11 13
10 21 20
7
1 1 3 9
5
6
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
13
16
Total # of Rounds
$11M $1M
$9M
$36M
$41M $86M $92M $5M
$18M
$38M
$152M $95M
$85M
$211M
$294M
$76M
$330M $20M $30M $430M $482M
$1.5B
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
20
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in eSports; 2012-2019
eSports > Investment Trends > Global Funding Trends
16
9
22
23
27
23
9
129
$1.4M
$4M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
$8.0M
$9.0M
$10.0M
0
20
40
60
80
100
120
140
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.4M $8.8M $2.2M $3.1M $3.5M $4.9M $4M $4M
$25M
$330M
$20M $94M $56M
$438M
$595M
$1.7B
$74M
3
0
2
4
6
8
10
12
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
1.6E+09
1.8E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
1 1 2 2 4 7 10 1
$358M
$81M
Total $ Invested

eSports > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in eSports
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Cary 1.6B 2
Bay Area 796M 74
Singapore 565M 10
Washington D.C. 471M 6
Owings Mills 228M 2
Los Angeles 177M 20
Santa Monica 143M 15
Mumbai 102M 8
Boston 63.3M 9
Stockholm 48.5M 11
Total Funding
180
11
70
23
6
5
1
3
# Rounds
$3.6B
$575M
$187M
$125M
$37.9M
$13.1M
$3.5M
$1.9M
US
SEA
Europe
India
Israel
South Korea
Australia
Japan
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.5
$0.3
$1.2
$2.0 $2.1
$4.1
$3.3
2012 2013 2014 2015 2016 2017 2018
eSports > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in eSports; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$18K* $27.9M
$70K $37M
$6.5M $74M
$500K $1.2B
$25M
$20M
$6M
$1.4M
Series C+
Series B
Series A
Seed
Stage
$15.0
$33.0
$15.8
$20.0
$35.2
$30.1
$330.0
$20.0 $30.0 $61.4
$96.4
$363.3
$1.4
$7.7 $7.6 $8.0
$5.7
$9.4 $9.5

Note: 125 companies with undisclosed funding amount are not included
23
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
23
61
29
6
7
No. of Companies
eSports > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in eSports; as of Apr 2019
Distribution of companies by Funding Range
$5M
$233M
$687M
$367M
$3.3B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
47%
14%
5%
2%
24
Note: Numbers in the brackets show the count of companies
Time to raise
next round
12
26
70
241
517
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
47% 5%
(28)
3%
(13)
- 17%
(87)
37%
(189)
29% 10%
(24)
4%
(10)
- 12%
(29)
59%
(142)
37% 24%
(17)
7%
(5)
- 10%
(7)
53%
(37)
46% 58%
(15)
19%
(5)
- 4%
(1)
50%
(13)
- 75%
(9)
17%
(2)
- - 42%
(5)
eSports > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in eSports
Funding Funnel
12 Months
24 Months
16 Months
Investment backedBootstrapped
11
7
24
6
14
3
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
eSports > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in eSports; Apr 2017-Apr 2019
Notable Investments in last 24 months (1/4)
LATE STAGE
$1.2B - PE Oct 2018
Cross platform game engine and game developer
KKR, Iconiq Capital, Kleiner Perkins, Lightspeed
Venture Partners, AXiomatic, Vulcan Capital
$391M - Series E May 2017
organizer
Hillhouse Capital Group, Cathay Financial Holdings,
Uni-President, JG Summit Holdings
$150M - Series E Dec 2018
Greenoaks, Technology, Index Ventures, Tencent,
FirstMark, IVP
LATE STAGE
$50M - Series D Apr 2018
Tencent, Benchmark, Greylock Partners, Spark
Capital
$25M - Series C Dec 2017
Liberty Global, Andy Miller, Western Alliance
Bancorporation, Accomplice, Wildcat Capital
Management, Telstra Ventures
Series C Jun 2018
PROOF.VC
EARLY STAGE
$53.6M - Series B Oct 2018
Robert Hohman, Remagine Ventures
$51.1M - Series B Dec 2017
India Infoline
$37M - Series B Jul 2018
eSports community platform based in the US
Iguodala, Steve Young, Telstra, Yifang Ventures,
Colin Carrier, Steve Simon, AME Cloud Ventures
$37M - Series A Jul 2018
Iguodala, Steve Young, Jerry Yang, Telstra, Steve
Simon, Yifang Ventures, Walter Wang, Colin Carrier

EARLY STAGE
$30.5M - Series B Nov 2018
Competitive gaming and tournament platform
Elysian Park, New Enterprise Associates, Science,
Crosscut, Coatue, WndrCo, adidas Group, Samsung
NEXT, Rahul Mehta, David Drummond, Michael
Dubilie, Johnny Hou, Nat Turner, Rich Dennis
$25M - Series B Jan 2018
eSports community platform based in the US
Bessemer Venture Partners
$25M - Series A Oct 2017
Wwe, Beverly Hills Sports Council, Raul Fernandez,
Michael Ovitz, Founders Fund, UTA Ventures
$24.7M - Series B Mar 2019
Swedbank Robur, Norron
EARLY STAGE
$20M - Series A Jan 2019
Envy (2007, Dallas, $20M)
eSports player organization
$19.7M - Series A Sep 2017
$19.2M - Series B Aug 2017
Super Evil Megacorp (2012, San Mateo,
$63.2M)
Mobile game developer specializing in the core
games
$18.3M - Series B Feb 2018
ESLGaming, JetSynthesys, LNB Group, Magnum
Honda, DIAM ORGANIC CHEMICAL INDUSTRIES,
Suresh Bhatia, Meena Ashwin Kothari, Mehul Shah,
Radhika Sharma, Uday Vora, Amit Thacker, Nisarg
Vakharia, Sanjay Dangi, Bahram Vakil, Cyrus
Nallaseth, speeds, Akshat Rathee, Dhiren Vora
EARLY STAGE
$16.5M - Series A Jun 2017
Team Liquid (2002, Los Angeles, $41.5M)
eSports team which runs news and content platform
$16M - Series B Nov 2018
Overwolf (2009, Petah Tikva, $22.2M)
Technology company that enables custom apps to be
overlayed on games
Intel Capital, LTV
$12.1M - Series A Jan 2018
Swedbank Robur
$11.3M - Series A Jan 2019
StreamElements (2016, Tel Aviv, $11.3M)
Monetization solutions for live streaming
Pitango Venture Capital, State of Mind Ventures,
Rainfall Ventures, Samsung NEXT

EARLY STAGE
$11M - Series A Aug 2017
Smash.gg (2015, San Francisco, $14M)
Platform to simplify hosting eSports tournaments
Nabeel Hyatt, Accel, Horizon Ventures, Caffeinated
Capital, Lowercase Capital, Spark Capital
Critical Force (2012, Kajaani, $10.8M)
Mobile game development and platform
development company
Business Finland
$5.8M - Series A Aug 2017
Maestro (2015, San Francisco, $5.8M)
Engagement and monetization tools for
broadcasters
Rubicon Venture Capital, StartX
Inbox Capital, Robin Söderling, Andreas Granqvist,
Martin Dahlin
EARLY STAGE
$5M - Series A Nov 2018
Mobile Premier League (2018, Bangalore,
$5.1M)
Real money gaming platform for eSports
Sequoia Capital, Beenext, Times Internet
$4M - Series A Aug 2017
Gamer Sensei (2016, Boston, $6.3M)
Professional eSports coaching platform
Accomplice, Advancit Capital, Origin Ventures,
CRCM Venture, Abstract Ventures, Boston Seed
Capital, Sigma Prime Ventures, Corigin Ventures,
KiwiTech
$70k - Series A Feb 2019
$5.1M)
Virat Kohli, Cornerstone, Brand Capital
Series B Jun 2017
IVP
SEED STAGE
$27.9M - Angel Dec 2017
Rakesh Jhunjhunwala
$26M - Angel Oct 2018
Michael Jordan, David Rubenstein, Curtis Polk
$25M - Angel Jul 2017
Jeff Vinik, Bruce Karsh
$25M - Angel May 2018
eSports team which runs news and content platform
Ted Leonsis, Peter Guber, Jeff Vicnik

SEED STAGE
$2.5M - Seed Jun 2017
Haste (2014, Atlanta, $6.7M)
Network optimization solution provider for eSports
gamers
Deep Space Ventures, Tech Square Ventures, BLH
Venture Partners, Hyde Park Venture Partners
$875k - Seed Feb 2019
gamers
$344k - Angel Dec 2017
Rangarajan Radesh, J Govindaraj
$60.9k - Angel Dec 2018
$5.1M)
Kunal Naresh Shah, Rohan Naresh Shah, Abhishek
Nag

eSports > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$632M - Series E Mar 2018
Douyu TV (2013, Wuhan, $958M)
Online live streaming platform for games and e-
sports
Tencent
$120M - Series E Dec 2018
Chushou TV (2011, Hangzhou, $265M)
Alphax Partners, Shunwei Capital, Qiming Venture
Partners
$76.8M - Series D Dec 2017
Chushou TV (2011, Hangzhou, $265M)
Google, Qiming Venture Partners, Shunwei Capital,
Alphax Partners
Series D Nov 2017
Douyu TV (2013, Wuhan, $958M)
Online live streaming platform for games and e-
sports
CMB International, Nanshan capital
EARLY STAGE
$462M - Series B Mar 2018
Huya (2013, Guangzhou, $537M)
Live online game broadcasting portal
Tencent
$145M - Series B May 2017
Panda TV (2015, Shanghai, $145M)
Online video streaming platform for eSports events
Industrial Securities, Hanfor, Lighthouse Capital
$75M - Series A May 2017
Huya (2013, Guangzhou, $537M)
Live online game broadcasting portal
Ping An, Banyan Capital, Engage Capital, Huanji,
Morningside venture Capital
$31.7M - Series A Feb 2018
Wangyuhudong (2015, Zhengzhou, $54.7M)
eSports events organizer
Zhejiang Financial Holding

Most Active Investors (VC, PE) by Stage in eSports; Last 5 years (Apr 2014-Apr 2019)
Most Active VC & PE Investors
30
eSports > Investment Trends > Most Active VC & PE Investors
SEED STAGE
CourtsideVC(4 Investments)
Epics, Fanai, Upcomer
1
Deep Space Ventures (4 Investments)
Quarterback, Haste, OpTic
2
First Round Capital (3 Investments)
Athenascope, Boom.tv, Mobcrush
3
Greycroft Partners (3 Investments)
Fanai, SLIVER.tv, AlphaDraft
4
Crosscut(2 Investments)
Boom.tv, Mobcrush
5
Advancit Capital (2 Investments)
SLIVER.tv, Mobcrush
6
March Capital Partners(2 Investments)
Genvid Technology, Dojo Madness
7
CRCM Venture (2 Investments)
TAUNT, Fanai
8
SV Angel (2 Investments)
Guilded, Revlo
9
Sterling VC (2 Investments)
Fanai, Guilded
10
EARLY STAGE
Crosscut(3 Investments)
PlayVS, Streamlabs, Super Evil Megacorp
1
Gamer Sensei, Wavedash, Unikrn
2
Samsung NEXT (3 Investments)
PlayVS, StreamElements, SLIVER.tv
3
Sequoia Capital (2 Investments)
Mobile Premier League, Streamlabs
4
Lowercase Capital (2 Investments)
Wavedash, Mobcrush
5
Raine Group (2 Investments)
Dojo Madness, Super Evil Megacorp
6
Bessemer Venture Partners (2
Investments)
TSM, SoloMid
7
Index Ventures(2 Investments)
Super Evil Megacorp, Faceit
8
Accel (2 Investments)
Visor, Smash.gg
9
Makers Fund (2 Investments)
Popdog, Genvid Technology
10
LATE STAGE
Index Ventures
Discord
1
Spark Capital
Discord
2
Toba Capital
Super League
3
GDP Venture
Garena
4
Sequoia Capital
Hero Entertainment
5
ZhenFund
Hero Entertainment
6
Kleiner Perkins
Epic Games
7
FirstMark
Discord
8
Vulcan Capital
Epic Games
9
Accomplice
Skillz
10

eSports > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in eSports; Last 5 years (Apr 2014-Apr 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
BITKRAFT(10 Investments)
Quarterback, Epics, PatronGG
1
Y Combinator(8 Investments)
Rune, Camelot, Visor
2
500 Startups(7 Investments)
Pvgna, Streamlabs, Dojo Madness
3
Techstars(5 Investments)
Haste, Matcherino, Electronic Gaming Federation
4
Boost VC(3 Investments)
ReadyUp, Boom.tv, Leetcoin
5
Incubate Fund (3 Investments)
GamingMonk, DetonatioN Gaming, SPODIA
6
Amplify(2 Investments)
AlphaDraft, Battlefy
7
IIDF(2 Investments)
Click-Storm, CyberGame.tv
8
Science
PlayVS
9
AdvantEdge
GamingMonk
10
OTHER NOTABLE INVESTORS
FundersClub(3 Investments)
Guilded, Revlo, Kickback
1
Kakao Ventures(3 Investments)
STILL8, Dojo Madness, Kongdoo Monster
2
CAA Ventures(3 Investments)
SLIVER.tv, Streamlabs, Mobcrush
3
Tencent(2 Investments)
Discord, Artillery
4
Time Warner(2 Investments)
Discord, Kamcord
5
Korea Investment Partners(2
Investments)
Popdog, Super Evil Megacorp
6
Times Internet(2 Investments)
Mobile Premier League, Qureka
7
Telstra(2 Investments)
TSM, SoloMid
8
Riot Games(2 Investments)
Blitz Esports, Curse
9
CrunchFund
Mobcrush
10
DEBT INVESTORS
Western Technology Investment
Gearbox Software
1
KKR
Epic Games
2
Trifecta Capital
Guilded
3
Farallon Capital Management
Garena
4
Multiplier Capital
Curse
5

eSports > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

eSports > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
36
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
MMORPG
Mar 2019
Gaming Enablers
Mar 2019
PC & Console Gaming
Mar 2019

Marketmap: eSports
38
eSports > Market Details > BlueBox

Key Sub Sectors
39
Key Sub Sectors in eSports
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Game Developers
Video game developers and creators of eSports games
Riot Games (2006, San Francisco, Acquired)
52 33 $2.2B
League Organizers
Organizations which create and run leagues and eSports tournaments
Super League (2014, Santa Monica, Public)
61 28 $1B
Enablers
Companies which help further the eSports ecosystem through various tools
Curse (2006, San Francisco, Acquired)
152 71 $560M
Team organizations which employ train eSports gamers to compete
exceL Esports (2014, London, Acquired)
36 16 $294M
eSports Platforms
Technology solutions which help in running tournaments and involve all stakeholders
AlphaDraft (2014, Los Angeles, Acquired)
173 68 $274M
Broadcasters
Online and offline players who broadcast live matches and practice videos to the audience
Ustream (2007, San Francisco, Acquired)
Mobcrush (2013, Los Angeles, $35.9M)
43 25 $229M
eSports > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/2)
40
eSports > Market Details > Detailed Sector Taxonomy

Detailed Sector Taxonomy (2/2)
41
eSports > Market Details > Detailed Sector Taxonomy

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
League Organizers
Organizations which create and run leagues and eSports tournaments
(Companies covered 61 | Funded 28 | Total Funding $1B)
$513M
(+$89M)
15
(+5)
Garena
2
(+2)
Enablers > Analytics & Tools
Platforms which offer eSports analytics and tools for all stakeholders
(Companies covered 47 | Funded 32 | Total Funding $405M)
$246M
(+$139M)
19
(+5)
Discord
3
(+1)
$277M
(+$267M)
15
(+8)
Cloud9
(2013, Santa Monica, $101M)
4
(+1)
eSports Platforms > Competitive Gaming > Real Money Gaming
Platforms to manage eSports competitions with real money
$88.3M
(+$68.8M)
19
(+15)
Skillz
(2012, Boston, $51.5M)
5
(-2)
Broadcasters > Live Streaming
Platforms which offer live streaming of eSports games
$29.6M
(-$46.9M)
7
(-10)
Genvid Technology
(2016, New York City, $20M)
6
(+5)
Enablers
Companies which help further the eSports ecosystem through various tools
(Companies covered 26 | Funded 11 | Total Funding $63.4M)
$63.4M
(+$63.4M)
5
(+5)
AXiomatic
(2015, Los Angeles, $51M)
7
(-1)
eSports Platforms > Competitive Gaming
Technology platforms used for running and tracking competitive eSports tournaments
(Companies covered 20 | Funded 9 | Total Funding $67.7M)
$56.7M
(+$46M)
3
(-)
PlayVS
(2015, Detroit, $46M)
42
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in eSports in last 2 years (April 2017 - March 2019)
eSports > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
(Companies created 36 | Funded 16 | Total Funding $294M )
3
2
Enablers > Analytics & Tools
Platforms which offer eSports analytics and tools for all stakeholders
3
Visor (2017, San Francisco, $5.8M)
3
eSports Platforms > Competitive Gaming
Technology platforms used for running and tracking competitive eSports tournaments
(Companies created 20 | Funded 9 | Total Funding $67.7M )
2
Smash.gg (2015, San Francisco, $14M)
4
eSports Platforms > Competitive Gaming > Real Money Gaming
Platforms to manage eSports competitions with real money
1 Mobile Premier League (2018, Bangalore,
$5.1M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
43
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (April 2017 - March 2019)
eSports > Market Details > Top Markets of Early Stage Investors

Incubators Mistletoe (#1)
Seed WestBridge Capital Partners (#1), UpVentures Capital (#1)
Series A/B Tencent (#1), General Atlantic (#1)
Series C+ Sequoia Capital (#1), ZhenFund (#1)
Super League Feb - 2019
IPO'd on NASDAQ
UMG Feb - 2018
Acq by Blackhawk for $26.4M
Valiance Jan - 2018
Acq by Kuuhubb
NODWIN Gaming Jan - 2018
Acq by Nazara
MLG Jan - 2016
Acq by Activision for $46M
$2.6M - Series A
N3rd Street Gamers (2011,
Philadelphia, $3.9M)
$720k - Seed
Mettlestate (2016, Johannesburg,
$720k)
$1.3M - Series A
N3rd Street Gamers (2011,
Philadelphia, $3.9M)
$1M - Seed
ggCircuit (2008, Belfast, $1M)
PE
OverPowered Network (2017)
$120k - Seed
Midwest eSports (2016, Wichita,
$120k)
Apr 2019
JetSynthesys forays in casual gaming segment with launch of
Ludo Live: World Tour, Indiatimes
Apr 2019
DreamHack enters global streaming partnership with
Caffeine, Esports Insider
Apr 2019
Millennial Esports Announces Filing of Financial Statements
and Lifting of Cease Trade Order, Investing News
Apr 2019
Chipotle, DreamHack and ESL Team Up To Launch Esports
Competition, Metro Atlanta CEO
Apr 2019
Houston Outlaws Add Texas Grocery Chain H-E-B As Official
Partner, PR Newswire
Apr 2019
Millennial Esports CMO Darren Cox Promoted to President
and Director, GlobeNewswire
Apr 2019
Mobile games emerge as Garena's main growth engine, The
Business Times
Apr 2019
WCG Announces the Acquisition of Analgesic Solutions, LLC,
Bio
Apr 2019 Schmidt joins ESL as CCO, Advanced Television
Mar 2019
Esports Stadium Arlington Partners With N3rd Street
Gamers, SGB Media
Mar 2019
Philadelphia Fusion will open the first esports arena in the
US, Engadget
Feb 2019 Super League Gaming prices IPO, Seeking Alpha
Feb 2019
PE-Backed Esports Co. Super League Scores $25M IPO,
Law360
Feb 2019
Betway Grows Esports Portfolio With Esl Partnership,
SBCNews
News
8
6
10
28
61
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
League Organizers: Market Factsheet
44
Exits
Recent InvestmentsOrganizations which create and
run leagues and eSports
tournaments
Super League
Millennial Esports
(2016, Toronto)
Garena
Hero Entertainment
(1993, Owings Mills, $228M)
Nazara
(2000, Mumbai, $102M)
Top Companies
#1 Top Markets of Investment Activity
eSports > Market Details > Market: League Organizers
Companies Created 61 | Funded 28 | Total Funding $1B
0
10
20
30
$0k
$200M
$400M
$600M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: League Organizers

League Organizers: Top Companies
Analyst’s Pick
organizer
Hillhouse Capital Group and 12 Other Investors
Hero Entertainment (1993, Owings Mills,
$228M)
E-sports event management company
Huayi Brothers Media Group, ZhenFund, Sequoia
Capital
ESLGaming, JetSynthesys, LNB Group and 37 Other
Investors
Analyst’s Pick
FunPlus (2010, San Francisco, $87M)
Independent video game development studio and
esports league organizer
Editor's Pick. Stage: Series B
Orchid Asia Group Management, Steamboat
Ventures, GSR Ventures, Signia Venture Partners
JetSynthesys (2014, Pune, $15.3M)
Digital entertainment and gaming company
Editor's Pick. Stage: Seed
Kris Gopalakrishnan, Meher Pudumjee, Nikhil
Sawhney and 5 Other Investors
Turtle Entertainment (2000, Cologne, $4.7M)
eSports tournament organizer and promoter
Editor's Pick. Stage: Acquired
Credit Agricole, Engelhardt Kaupp Kiefer, VCDE
Venture Partners
ESLGaming (2009, Tours)
eSports gaming organizer
Editor's Pick. Stage: Unfunded
Analyst’s Pick
MLG (2002, New York City)
eSports event organizing and broadcasting
company
Editor's Pick. Stage: Acquired

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
46
League Organizers: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Nazara 2000 Mumbai Series B $102M 8 - 4 3 4 845 169M 513.8k 32 73k 17% 15 2%
4.8 JetSynthesys 2014 Pune Seed $15.3M 5 3 5 - 4 322 609k 16.6k 8 374 2% 99 44%
4.6 Garena 2009 Singapore Series E $563M 7 - 5 - 2 62 343.5M
19852.9
k
14 - - - -
4.0 Gfinity 2013 London Public - 3 4 - - - 174.5k - - 16 - - 505 -
3.7
N3rd Street
Gamers
2011
Philadelphi
a
Series A $3.9M 3 3 - - 3 15.2k - - 4 - - 140 1%
3.5 ESLGaming 2009 Tours Unfunded - - 3 4 3 4 864.3k 600k 2.9k 40 197 7% 13k 2%
3.4 ggCircuit 2008 Belfast Seed $1M 1 3 - - 4 2.7k - - - - - 2.3k 481%
3.4 FunPlus 2010
San
Francisco
Series B $87M 1 - 4 3 3 - 330k 1.8k 5 2 - - -
3.3
NODWIN
Gaming
2012 Gurgaon Acquired - - 4 - - 4 269 - - 6 - - 86 47%
3.2
Midwest
eSports
2016 Wichita Seed $120k 1 2 - - 4 5.5k - - - - - 4.1k 274%
3.2
Super
League
2014
Santa
Monica
Public $31M 8 4 - - 3 - - - 9 - - - -
3.0
OverPowere
d Network
2017 0.0 Funded - 1 - - - 2 2.9k - - - - - 2.5k 607%
3.0 Valiance 2016 Berlin Acquired - - 5 - - 2 14.7k - - 2 - - 1.3k 10%

Incubators BITKRAFT (#2), Y Combinator (#1)
Seed CourtsideVC (#2), Founders Fund (#1)
Series A/B Greylock Partners (#2), Deep Space Ventures (#1)
Series C+ Index Ventures (#1), Spark Capital (#1)
Hattrick Sports Group Feb - 2017
Acq by Fortuna for $89.5M
$875k - Seed
$2.5M - Seed
Athenascope (2018, California, $2.5M)
$150M - Series E
$210k - Seed
Harena Data (2017, Milford, $275k)
$16M - Series B
Seed
Mobalytics (2016, Santa Monica,
$2.6M)
$4.7M - Series A
$65k - Seed
Harena Data (2017, Milford, $275k)
$50M - Series D
$120k - Seed
$4.5M - Series A
Fanai (2016, San Francisco, $6.3M)
Apr 2019
Mozilla’s Web-Based VR Platform Hubs Adds Discord
Support, VRFocus
Apr 2019
Inside Discord, the gaming chat app with as many users as
Fortnite, CNBC
Apr 2019
Streamlabs launches augmented reality face masks for
Twitch streamers, VentureBeat
Mar 2019
Discord Game Store refocuses on Nitro subscription, devs
can now sell games directly, GamesIndustry
Mar 2019
The Halo Games Will Arrive on PCs Later This Year Via
Steam, PCMag
Feb 2019
Overwolf launches PUBG Developers Challenge, Esports
Insider
Feb 2019
Athenascope nabs $2.5M seed led by First Round to bring
gamers AI-edited highlight reels, TechCrunch
Feb 2019
Explore Halo. Become A Hero. Halo: Outpost Discovery, PR
Newswire
Jan 2019
DOJO Madness and Sportradar Launch Bayes Esports
Solutions, Esports Observer
Dec 2018
Discord Store Will Give 90 Percent Revenue Share to
Developers from 2019, New Delhi Television
Dec 2018 Discord will let anyone sell games on its platform, Engadget
Nov 2018
Discord experiments with games detection on Android,
Pocket Gamer
Oct 2018
Streamlabs Collaborates With Intel to Power Integrated PC
Platforms Optimized For Live Streaming, Business Wire
Aug 2018
Gaming Insights Startup Visor Raises $4.7M in Series A,
FinSMEs
News
1
2
10
32
47
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Enablers > Analytics & Tools: Market Factsheet
47
Exits
Recent InvestmentsPlatforms which offer eSports
analytics and tools for all
stakeholders
Discord
Overwolf
(2009, Petah Tikva, $22.2M)
Betable
Streamlabs
Dojo Madness
(2014, Berlin, $12.8M)
Top Companies
eSports > Market Details > Market: Analytics & Tools
Companies Created 47 | Funded 32 | Total Funding $405M
0
20
40
$0k
$500M
$1.B
2014 2015 2016 2017 2018
Market: Analytics & Tools

Enablers > Analytics & Tools: Top Companies
Analyst’s Pick
Greenoaks, Technology, Index Ventures and 11
Other Investors
Technology company that enables custom apps to
be overlayed on games
Minicorn. Stage: Series B
Intel Capital, LTV, Yossi Vardi, Marker
Streamlabs (2012, San Francisco, $17.3M)
Live streaming tool for receving rewards/donations
Minicorn. Stage: Series A
Sequoia Capital, Crosscut, Matrix Partners and 5
Other Investors
Dojo Madness (2014, Berlin, $12.8M)
Coaching tools for eSports players
Editor's Pick. Stage: Series A
Raine Group, Kakao Ventures, March Capital
Partners and 8 Other Investors
Analyst’s Pick
gamers
Minicorn. Stage: Seed
Deep Space Ventures, Tech Square Ventures, BLH
Venture Partners and 4 Other Investors
Maestro (2015, San Francisco, $5.8M)
Engagement and monetization tools for
broadcasters
Rubicon Venture Capital, StartX, Scrum Ventures,
500 Startups
Mobalytics (2016, Santa Monica, $2.6M)
Performance analytics and improvement platform
for the competitive gamers
RRE Ventures, Almaz Capital, Founders Fund and 4
Other Investors
Athenascope (2018, California, $2.5M)
AI-focused solution provider
First Round Capital
Analyst’s Pick
Epics (2017, Bath, $2M)
Digital trading card and collectibles app
BITKRAFT, Hersh Family Investments, Imagination
Capital, CourtsideVC

49
Enablers > Analytics & Tools: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Discord 2012
San
Francisco
Series E $280M 5 3 5 - - 1.1M 75M 470.7k 33 149k 46%
242.7
k
28%
4.6 Streamlabs 2012
San
Francisco
Series A $17.3M 2 - 4 - 4 230 3.1M 9.4k 6 7.7k 445% 105 84%
3.7 Overwolf 2009 Petah Tikva Series B $22.2M 2 3 4 - - - 300k 2.3k 6 3.8k
-
243%
- -
3.6
Dojo
Madness
2014 Berlin Series A $12.8M 3 5 - - - 750 - - 7 - - 11 1%
3.5 Mobalytics 2016
Santa
Monica
Seed $2.6M 3 4 - - 4 25.4k - - 3 - - 1.4k 6%
3.5 Epics 2017 Bath Seed $2M 1 4 4 - 4 14.6k 75k 2.1k 1 - - - -
3.3 Haste 2014 Atlanta Seed $6.7M 5 4 - - - 22.4k - - - - - 3.4k 18%
3.1 Visor 2017
San
Francisco
Series A $5.8M 3 4 - - 3 644 - - 1 - - 40 7%
2.6 Fanai 2016
San
Francisco
Series A $6.3M 2 - - - - - - - 5 - - - -
2.5 PandaScore 2015 Paris Seed $2.8M 1 2 - - 3 1.1k - - 1 - - 114 12%
2.5 Maestro 2015
San
Francisco
Series A $5.8M 1 4 - - - 2.3k - - 2 - - -193 -8%
2.4 Mediarex 2012 Gzira Series A $4.9M 1 3 - - 4 78 - - 3 - - - -
2.3 Betable 2007
San
Francisco
Series A $18.5M 2 4 - - - - - - 2 - - - -

Incubators
Seed Deep Space Ventures (#1), M Ventures (#1)
Series A/B Bessemer Venture Partners (#2), Telstra (#2)
Series C+ NextEquity (#1)
SK Gaming Jan - 2019
Acq by Daimler
exceL Esports Sep - 2018
Acquired
OpTic Nov - 2017
Acquired
GoodGame Dec - 2014
Acq by Twitch
Angel
YaLLa esports (2016, Dubai)
$17.3M - Series A
G2 Esports (2013, Berlin, $24.6M)
$20M - Series A
$53.6M - Series B
$37M - Series B
$37M - Series A
$25M - Angel
Team Liquid (2002, Los Angeles,
$41.5M)
$25M - Series B
Seed
OpTic (2006, Dallas)
Apr 2019
Dubai esports team wins seed funding from angel investor,
Arabian Business
Mar 2019 Team Envy enters partnership with Predator, Esports Insider
Mar 2019
Audeze Partners With esports Organization Echo Fox, PR
Newswire
Feb 2019
G2 Esports raises $17.3 million Series A funding round for
global expansion, TechStartups.com
Feb 2019
Team Liquid Hires Twitch to Manage Sales and
Advertisements, SportTechie
Feb 2019
Global eSports revenues to top USD 1 billion in 2019, Deccan
Chronicle Holdings
Jan 2019
Team SoloMid Parent Company Swift Adds Blitz Esports App
To Growing Portfolio, Esports Observer
Jan 2019
Mail.Ru Group sells SK Gaming to Mercedes-Benz, “the first
car maker to invest in an eSports team”, East-West Digital News
Jan 2019
Mercedes-Benz becomes SK Gaming partner: New horizons
for the brand as it invests in an eSports pioneer, WebWire
Jan 2019
Jersey Mike’s Partners with Esports Leader Team Liquid, QSR
Magazine
Jan 2019
Esports group Fnatic teams up with blockchain firm WAX on
digital collectibles, VentureBeat
Dec 2018
Global PE-RT Market Size, Share 2018-2023: SK,
LyondellBasell, Dow Chemical and LG Chem, Publicist Report
Dec 2018 Immortals, K-swiss Flex Footwear Line, License Global
Oct 2018
Esports Company Cloud9 Raises $50 Million In Series B
Funding, Forbes
News
4
1
10
16
36
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Player Organizations: Market Factsheet
50
Exits
Recent InvestmentsTeam organizations which employ
train eSports gamers to compete
Cloud9
SoloMid
Team Liquid
(2002, Los Angeles, $41.5M)
TSM
(2009, Los Angeles, $37M)
G2 Esports
(2013, Berlin, $24.6M)
Top Companies
eSports > Market Details > Market: Player Organizations
0
10
20
$0k
$200M
$400M
$600M
2014 2015 2016 2017 2018
Market: Player Organizations

Player Organizations: Top Companies
Analyst’s Pick
Robert Hohman and 13 Other Investors
eSports team which runs news and content
platform
Ted Leonsis, Peter Guber, Jeff Vicnik
Iguodala and 7 Other Investors
G2 Esports (2013, Berlin, $24.6M)
Editor's Pick. Stage: Series A
Parkwood, Seal Rock Partners, EverBlu Capital and
3 Other Investors
Analyst’s Pick
Fnatic (2004, London, $7M)
e-sports player organization
Raptor Group, Hannes Wallin, Joichi Ito and 2 Other
Investors
cybersport.ru (2003, Moscow)
eSports tournament organiser and broadcasting
network
USM
Echo Fox (2015, Los Angeles)
Minicorn. Stage: Seed
Vision Venture Partners
Global eSports (2012, Mumbai)
Editor's Pick. Stage: Unfunded

52
Player Organizations: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Cloud9 2013
Santa
Monica
Series B $101M 5 5 - - 3 758.8k - - 6 - - 75.3k 11%
5.0 Fnatic 2004 London Series A $7M 1 3 5 - 5 1.3M 8k 149 11 16 12% 50.8k 4%
4.5 G2 Esports 2013 Berlin Series A $24.6M 2 3 - - 3 434.9k - - 6 - - 64.4k 17%
4.3 TSM 2009 Los Angeles Series A $37M 1 - - - 4 2M - - 3 - - - -
4.3 SoloMid 2009
San
Francisco
Series B $62M 2 - - - 3 3.7k - - 2 - - 283 9%
3.9 Envy 2007 Dallas Series A $20M 1 2 - - 3 546.6k - - 4 - - 4.2k 1%
3.7 Team Liquid 2002 Los Angeles Series A $41.5M 2 4 - - 3 45 - - 5 - - 1 2%
3.5 Echo Fox 2015 Los Angeles Seed - 1 3 - - 3 94.4k - - 2 - - 4.5k 5%
3.5 SK Gaming 1997 Cologne Acquired - - 3 - - 4 292.1k - - 7 - - 6.1k 2%
3.2 Astralis 2015
Copenhage
n
Funded - - 3 - - 4 207.4k - - 1 - - 38.4k 23%
3.0
exceL
Esports
2014 London Acquired - - 2 - - 2 45.1k - - 3 - - 21.2k 89%
3.0 Immortals 2015 Los Angeles Series A - 2 4 - - 3 134.7k - - 12 - - -2177 -2%
2.7
DetonatioN
Gaming
2013 Tokyo Funded - - - - - 3 47.4k - - - - - 5.2k 12%
2.7
Team
Dignitas
2003 London Funded $500k 2 2 - - 4 22 - - 3 - - - -

eSports > Market Details > Market: Real Money Gaming
Market: Real Money Gaming

eSports > Market Details > Market: Live Streaming
Market: Live Streaming

eSports > Market Details > Market: Enablers
Companies Created 26 | Funded 11 | Total Funding $63.4M
Market: Enablers

Market: Enablers

eSports > Market Details > Market: Competitive Gaming
Companies Created 20 | Funded 9 | Total Funding $67.7M
Market: Competitive Gaming

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
65
Notable Acquisitions
Top Acquirers

Public companies
67
Performance indicators of public companies in eSports
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 2019
Super League (2014, Santa Monica)
$91.7M NASDAQ:SLGG
Jul 2016
Versus Systems (2014, Los Angeles)
CNSX:VS
Mar 2012
Millennial Esports (2016, Toronto)
$2.2M CVE:GAME
Oct 2011
eSports Mogul (2016, Perth)
$6.6M ASX:ESH
Aug 2006
Pinnacle (1998, Groveport)
EURONEXT:PNS
Gfinity (2013, London)
Bandai Namco Entertainment (1955, Tokyo)
WorldGaming (2010, Toronto)
The Farm 51 (2005, Gliwice)
VR game and content development studio
WSE:F51
eSports > Exit Outlook > Public Companies

Notable Acquisitions (1/2)
68
Notable Acquisitions in eSports
eSports > Exit Outlook > Notable Acquisitions
2018
Acquirer: Wikia
Curse (2006, San Francisco, $51.8M)
MCN for Gaming
2017
Acquirer: Lyft
Kamcord (2012, San Francisco, $34.8M)
Platform for recording and sharing for the mobile
gameplay
2016
Acquirer: IBM Deal: $130M
Ustream (2007, San Francisco, $48.6M)

Notable Acquisitions (2/2)
69
Notable Acquisitions in eSports
eSports > Exit Outlook > Notable Acquisitions
2014
Acquirer: Amazon Deal: $970M
Twitch (2011, San Francisco, $35.1M)
Live and on-demand eSports and video games
streaming website
2011
Acquirer: Tencent Deal: $400M
Video game developer and eSports tournament
organizer

Most Active Acquirers
70
eSports > Exit Outlook > Most Active Acquirers

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
71
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

eSports > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in eSports; Last 5 years (Apr 2014 - Mar 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Deep Space Ventures (4 Investments)
CourtsideVC (4 Investments)
First Round Capital (3 Investments)
Greycroft Partners (3 Investments)
Crosscut (2 Investments)
March Capital Partners (2 Investments)
CRCM Venture (2 Investments)
SV Angel (2 Investments)
Sterling VC (2 Investments)
Imagination Capital (2 Investments)
Foundation Capital (2 Investments)
Betaworks (2 Investments)
Tandem Capital (2 Investments)
Lowercase Capital
EARLY STAGE
Crosscut (3 Investments)
Samsung NEXT (3 Investments)
Sequoia Capital (2 Investments)
Lowercase Capital (2 Investments)
Raine Group (2 Investments)
Bessemer Venture Partners (2 Investments)
Index Ventures (2 Investments)
Accel (2 Investments)
Makers Fund (2 Investments)
Yifang Ventures (2 Investments)
Deep Space Ventures
Greylock Partners
March Capital Partners
CourtsideVC
LATE STAGE
Sequoia Capital
Index Ventures
ZhenFund
Kleiner Perkins
Spark Capital
FirstMark
Vulcan Capital
Accomplice
Toba Capital
Keytone Ventures
GDP Venture
Lightspeed Venture Partners
Hillhouse Capital Group
Liberty Global
Telstra Ventures

Deep Space Ventures
74
Portfolio in eSports | Exits | Funds Link | Website | LinkedIn | Twitter
eSports > Investors > Deep Space Ventures
People
Investments
[Minicorn] Haste (2014, Atlanta, $6.7M, Seed)
Network optimization solution provider for eSports gamers
[Editor's Pick] Mobalytics (2016, Santa Monica, $2.6M, Seed)
Performance analytics and improvement platform for the competitive
gamers
eSports Notable Portfolio
[Minicorn] Vinli (2014, Dallas, $21M, Series B)
Provider of mobility data intelligence & connected car platform
[Editor's Pick] Mycroft (2015, Lawrence, $2.1M, Series A)
An open source/open hardware artificial intelligence platform.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Stephen Hays
Co-Founder &
Managing Partner
Geographical Spread Stage of Entry
Jan 2019
FanAI buys Waypoint Media to better track fan
engagement for streaming monetization, TechCrunch
Dec 2018
FanAI partners with Hi-Rez Studios and Skillshot Media,
Esports Insider
Nov 2018
With investors knocking, PlayVS opens the door to a
$30M Series B, TechCrunch
Oct 2018
PlayVS appoints Champion as exclusive jersey provider,
Esports Insider
Sep 2018
PlayVS Announces ‘Season Zero’ Launch Date, Los Angeles
Business Journal
Sep 2018
PlayVS taps League of Legends in launch of high school
esports platform, technewsuniverse.com
Aug 2018
OpTic Gaming Partners with Sansar on Revolutionary
New Social Esports Experience in Virtual Reality, Business
Wire
Jul 2018
PlayVs’s $15 Million Round Funding, Global Legal
Chronicle
Jun 2018
PlayVS, bringing esports infrastructure to high schools,
picks up $15 million, TechCrunch
OpTic
(2006, Dallas)
Acq by - Nov 2017
2
3
2014 2015 2016 2017 2018 2019
Follow On New Investments
3
-
-
1
4
Undisclosed
Series C+
Series B
Series A
Seed6
1
1
-
-
US
Israel
Canada

CourtsideVC
75
eSports > Investors > CourtsideVC
Investments
[Editor's Pick] Epics (2017, Bath, $2M, Seed)
[Minicorn] LiveLike (2015, San Francisco, $23M, Series B)
VR Sports Broadcasting
[Minicorn] TAPPP (2013, New York City, $9.2M, Series A)
Video content aggregator
[Editor's Pick] The Athletic (2016, Chicago, $70M, Series C)
Online sports media company
[Editor's Pick] StockX (2015, Detroit, $50M, Series B)
Online marketplace and auction platform to buy and sell used fashion
products
[Editor's Pick] LISNR (2012, Cincinnati, $14.7M, Series B)
Provider of an ultrasonic communication protocol for sending data
over audio
[Editor's Pick] Hammerhead (2012, New York City, $7.4M, Seed)
Smart bike navigation
Top Exits Recent News on Fund & Portfolio
Jan 2019
Jan 2019
Hi-Rez Studios’ Esports Video Streaming Deal with
Microsoft’s Mixer, Global Legal Chronicle
Dec 2018
Esports Insider
Nov 2018
Mixer’s Season 2 is the next phase in its battle with
Twitch, YouTube, VentureBeat
Oct 2018 Wavedash lays off the majority of its staff, GamesIndustry
Mar 2018
FanAI digs deeper into fan behavior for more precise
view, The Business Journals
Feb 2018
FanAI, the AI Driven Esports Audience Monetization
Platform, Secures a $2.5M Funding Round, PR Newswire
Feb 2018
Microsoft’s Mixer tempts Twitch users by making it easier
for streamers to make money, TechRadar
Feb 2018
Sea of Thieves is already a hit, but Microsoft needs to
make it a success, VentureBeat
Jan 2018
Esports Trading Card Platform Epics.gg Raises $2 Million
in Seed Round, Esports Observer
Mixer
(2014, Redmond)
Acq by Microsoft - Aug 2016
1
2
2
2014 2015 2016 2017 2018 2019
-
-
-
1
4
Undisclosed
Series C+
Series B
Series A
Seed4
1
-
-
-
US
Europe

First Round Capital
76
eSports > Investors > First Round Capital
People
Investments
[Minicorn] Mobcrush (2013, Los Angeles, $35.9M, Series B)
Live game broadcasting platform for the mobile gamers
[Editor's Pick] Athenascope (2018, California, $2.5M, Seed)
AI-focused solution provider
[Unicorn] Pinterest (2010, San Francisco, $1.5B, Series G)
Visual social bookmarking service
[Unicorn] Flexport (2013, San Francisco, $1.3B, Series E)
Online freight forwarder
[Unicorn] Clover Health (2014, San Francisco, $925M, Series E)
Healthcare insurance for senior citizens
[Unicorn] Warby Parker (2010, New York City, $300M, Series E)
Internet-first brand of eyewear
[Unicorn] Looker (2011, Santa Cruz, $280M, Series E)
Data integration and visualization solutions provider
[Unicorn] Roblox (2005, San Mateo, $252M, Series F)
Online gaming platform allowing users to create the web games
[Unicorn] Blue Apron (2012, New York City, $194M, Public)
Weekly subscription based meal kits delivery
[Unicorn] OnDeck (2007, New York City, $177M, Public)
Online platform for business loans.
[Unicorn] LendingHome (2013, San Francisco, $166M, Series C)
Alternative lending and investment platform for mortgages.
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
Top Exits
Bill Trenchard
Founder & Partner
Tom C. Kwon
Co-Founder & Partner
Feb 2019
Athenascope nabs $2.5M seed led by First Round to bring
gamers AI-edited highlight reels, TechCrunch
Jul 2018
Mobcrush’s livestream multicasting tool can reach 750
million people, VentureBeat
Apr 2018
Ex-Fullscreen senior director joins livestreaming platform
Mobcrush, Pocket Gamer
Mar 2018
Mobcrush flips the switch on monetization with new ad
platform, TechCrunch
Mar 2018
Mobile streaming outfit Mobcrush recruits ex-Studio 71
COO Phil Ranta as head of creators, Pocket Gamer
Dec 2016
Boom.tv raises $3.5 million for esports 3D livestreaming
platform, VentureBeat
Oct 2016
Livestreaming app Mobcrush raises $20 million,
VentureBeat
Apr 2016
Former Kabam COO Chris Carvalho carves a niche as a
game startup adviser, VentureBeat
Oct 2015
Chinese giant Tencent leads Series A funding in free-to-
play developer Artillery | GamesBeat, VentureBeat
Oct 2015 Artillery Raises Series A Funding, VC News Daily
None
2
1
1
1
1
2014 2015 2016 2017 2018 2019
-
-
-
-
4
Undisclosed
Series C+
Series B
Series A
Seed4
-
-
-
-
US

Greycroft Partners
77
eSports > Investors > Greycroft Partners

Crosscut
78
eSports > Investors > Crosscut

Advancit Capital
79
eSports > Investors > Advancit Capital

80
eSports > Investors > March Capital Partners

CRCM Venture
81
eSports > Investors > CRCM Venture

SV Angel
82
eSports > Investors > SV Angel

Lowercase Capital
83
eSports > Investors > Lowercase Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
84
Seed Stage
Early Stage
Late Stage

Crosscut
85
eSports > Investors > Crosscut

Advancit Capital
86
eSports > Investors > Advancit Capital

Samsung NEXT
87
eSports > Investors > Samsung NEXT

Sequoia Capital
88
eSports > Investors > Sequoia Capital

Lowercase Capital
89
eSports > Investors > Lowercase Capital

Raine Group
90
eSports > Investors > Raine Group

Bessemer Venture Partners
91
eSports > Investors > Bessemer Venture Partners

Index Ventures
92
eSports > Investors > Index Ventures

Deep Space Ventures
93
eSports > Investors > Deep Space Ventures

Greylock Partners
94
eSports > Investors > Greylock Partners

95
eSports > Investors > March Capital Partners

CourtsideVC
96
eSports > Investors > CourtsideVC

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
97
Seed Stage
Early Stage
Late Stage

Sequoia Capital
98
eSports > Investors > Sequoia Capital

Index Ventures
99
eSports > Investors > Index Ventures

ZhenFund
100
eSports > Investors > ZhenFund

Kleiner Perkins
101
eSports > Investors > Kleiner Perkins

Spark Capital
102
eSports > Investors > Spark Capital

FirstMark
103
eSports > Investors > FirstMark

Vulcan Capital
104
eSports > Investors > Vulcan Capital

Accomplice
105
eSports > Investors > Accomplice

Toba Capital
106
eSports > Investors > Toba Capital

Keytone Ventures
107
eSports > Investors > Keytone Ventures

GDP Venture
108
eSports > Investors > GDP Venture

Lightspeed Venture Partners
109
eSports > Investors > Lightspeed Venture Partners

Hillhouse Capital Group
110
eSports > Investors > Hillhouse Capital Group

Liberty Global
111
eSports > Investors > Liberty Global

Telstra Ventures
112
eSports > Investors > Telstra Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
113
Incubators
Other Notable Investors
Debt Investors

eSports > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in eSports; Q2 2014 - Q1 2019
Index of Ecosystem Investors
INCUBATOR
BITKRAFT (10 Investments)
Y Combinator (8 Investments)
500 Startups (7 Investments)
Techstars (5 Investments)
Boost VC (3 Investments)
Incubate Fund (3 Investments)
Amplify (2 Investments)
IIDF (2 Investments)
Science
AdvantEdge
Rosecliff Ventures
Brand Capital
NFX
Eleven Ventures
Startup Sauna
OTHER NOTABLE INVESTORS
FundersClub (3 Investments)
Kakao Ventures (3 Investments)
CAA Ventures (3 Investments)
Tencent (2 Investments)
Time Warner (2 Investments)
Korea Investment Partners (2 Investments)
Times Internet (2 Investments)
Telstra (2 Investments)
Riot Games (2 Investments)
CrunchFund
Coatue
Danhua Capital
Ontario Teachers' Pension Plan
WME Entertainment
Wildcat Capital Management
DEBT INVESTORS
KKR
Trifecta Capital
Farallon Capital Management
Multiplier Capital

BITKRAFT
115
eSports > Investors > BITKRAFT
Investments
[Editor's Pick] Dojo Madness (2014, Berlin, $12.8M, Series A)
[Editor's Pick] Epics (2017, Bath, $2M, Seed)
[Minicorn] Action Network (2017, Playa Vista, $17.5M, Series B)
Online media portal providing sports betting news
[Editor's Pick] Manticore Games (2016, San Mateo, $18.6M,
Series A)
Independent game development company specializing in PC & console
games
[Editor's Pick] GoMeta (2016, San Diego, $2M, Seed)
Platform to create and play AR games
Top Exits Recent News on Fund & Portfolio
Jan 2019
Jan 2019
Dec 2018
Esports Insider
Dec 2018
Infinite Esports & Entertainment’s Allegiance
Organization to Shut Down, Esports Observer
Oct 2018
Advance Publications buys The Esports Observer as a new
sport emerges, VentureBeat
May 2018
Quarterback lets top esports gamers and streamers create
their own fan-based leagues, TechCrunch
Mar 2018
FanAI digs deeper into fan behavior for more precise
view, The Business Journals
Feb 2018
FanAI, the AI Driven Esports Audience Monetization
Platform, Secures a $2.5M Funding Round, PR Newswire
Jan 2018
Esports Trading Card Platform Epics.gg Raises $2 Million
in Seed Round, Esports Observer
Esports Observer
(2014, Berlin)
Acq by - Oct 2018
2
1
3
2014 2015 2016 2017 2018 2019
5
-
-
1
6
Undisclosed
Series C+
Series B
Series A
Seed5
2
2
1
1
Europe
US
China
Israel
SEA

Y Combinator
116
eSports > Investors > Y Combinator
People
Investments
[Editor's Pick] Guilded (2017, San Francisco, $3.2M, Seed)
Esports team management tool
[Unicorn] Airbnb (2008, San Francisco, $3.4B, Series F)
Marketplace for vacation rental accommodations
[Unicorn] Instacart (2012, San Francisco, $2.8B, Series G)
Marketplace for same-day grocery delivery
[Unicorn] DoorDash (2013, Palo Alto, $1.4B, Series F)
On-demand food delivery marketplace
[Unicorn] Flexport (2013, San Francisco, $1.3B, Series E)
Online freight forwarder
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Zenefits (2013, San Francisco, $584M, Series C)
SaaS HR Platform for SMBs
[Unicorn] Coinbase (2012, San Francisco, $547M, Series E)
Digital currency exchange & wallet provider
[Unicorn] Rappi (2015, Bogota, $464M, Series C)
On-demand delivery services for multi-vertical products
[Unicorn] Ginkgo Bioworks (2008, Boston, $429M, Series D)
Designs microbes to produce cultured ingredients
[Unicorn] Gusto (2011, San Francisco, $316M, Series C)
Cloud-based HRMS and payroll management solution
[Unicorn] Docker (2008, San Francisco, $273M, Series E)
LXC based OS-level virtualization technology and PaaS
[Unicorn] MZ (Machine Zone) (2008, Palo Alto, $263M, Series B)
Mobile game developer
Top Exits
Trevor
Blackwell
Co-Founder
Paul Graham
Co-Founder
Robert Morris
Co-Founder
Jessica
Livingston
Co-Founder & Partner
Apr 2019
Streamlabs: Twitch is still streaming king, though
YouTube is gaining ground, GamesIndustry
Mar 2019
Camelot lets Twitch and YouTube audiences pay for what
they want to see, TechCrunch
Jan 2019
Team SoloMid Parent Company Swift Adds Blitz Esports
App To Growing Portfolio, Esports Observer
Nov 2018
Discord acquires Blitz Esports, closes content platform,
GamesIndustry
Aug 2018
Gaming Insights Startup Visor Raises $4.7M in Series A,
FinSMEs
May 2016
Revlo raises $1.1 million to let livestreamers engage and
monetize their fans | GamesBeat, VentureBeat
Apr 2016
Kamcord bags $10M led by Time Warner to tackle live-
streaming like a media business, TechCrunch
Feb 2016
Kamcord Now Lets Broadcasters Make Money On Its
Mobile Game Streaming App, TechCrunch
Nov 2015
Kamcord Launches Live Mobile Game Streaming In Japan
And Korea, TechCrunch
Jul 2015
Kamcord Update Brings Live Game Streaming To Mobile
Devices, TechCrunch
Twitch
Acq by Amazon - Aug 2014
Kamcord
Acq by Lyft - Nov 2017
Blitz Esports
(2015, Berkeley, $3.6M)
Acq by Discord - Nov 2018
22
1
2
1
2014 2015 2016 2017 2018 2019
2
-
-
-
8
Undisclosed
Series C+
Series B
Series A
Seed10
-
-
-
-
US

500 Startups
117
eSports > Investors > 500 Startups
People
Investments
[Minicorn] Streamlabs (2012, San Francisco, $17.3M, Series A)
Live streaming tool for receving rewards/donations
[Minicorn] Maestro (2015, San Francisco, $5.8M, Series A)
Engagement and monetization tools for broadcasters
[Editor's Pick] Dojo Madness (2014, Berlin, $12.8M, Series A)
[Editor's Pick] Zengaming (2015, Tel Aviv, $2.8M, Seed)
eSports gaming platform
[Editor's Pick] Ader (2015, San Francisco, Seed)
Influencer marketing network for Twitch streamers
[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)
Aggregator of various consumer financial products.
[Unicorn] Intercom (2011, San Francisco, $241M, Series D)
Customer communication and Retention Platform
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] Gitlab (2014, San Francisco, $166M, Series D)
Code collaboration tool
[Unicorn] Talkdesk (2011, San Francisco, $128M, Series B)
Browser based call center
[Soonicorn] Smule (2008, San Francisco, $188M, Series F)
Developer of social music creation and sharing apps
[Soonicorn] Carousell (2012, Singapore, $183M, Series C)
Online listing platform for multi-category pre-owned products
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
Marketplace for online courses
Top Exits
Christine Tsai
CEO
Apr 2019
Streamlabs launches augmented reality face masks for
Twitch streamers, VentureBeat
Jan 2019
Dec 2018 Unikrn adds new functionality, reviewed-casinos.com
Nov 2018
Streamlabs launches App Store focused on streamer
support, GamesIndustry
Oct 2018
Streamlabs Collaborates With Intel to Power Integrated
PC Platforms Optimized For Live Streaming, Business Wire
Jun 2018
Twitch Streaming App Streamlabs Adds Support for
Cryptocurrency Tipping, CCN
Mar 2018
Maestro unveils Impact Scores: a new metric for
interactive live streams, PR Newswire
Sep 2017
Maestro Raises $3M Series A to Expand in Esports and
Pioneer Engagement and Analytics Platform for
Enterprise Live Streamers | Business Wire, Business Wire
Jul 2017
Streamlabs brings its livestreaming app to Android |
VentureBeat, VentureBeat
Apr 2017
Dojo Madness raises $6M to make pro gamers better with
big data, SiliconAngle
None
2 2
2014 2015 2016 2017 2018 2019
2
-
-
1
4
Undisclosed
Series C+
Series B
Series A
Seed5
1
1
-
-
US
Europe
Israel

Techstars
118
eSports > Investors > Techstars

Boost VC
119
eSports > Investors > Boost VC

Amplify
120
eSports > Investors > Amplify

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
121
Incubators
Debt Investors

Kakao Ventures
122
eSports > Investors > Kakao Ventures

CAA Ventures
123
eSports > Investors > CAA Ventures

Tencent
124
eSports > Investors > Tencent

Time Warner
125
eSports > Investors > Time Warner

Korea Investment Partners
126
eSports > Investors > Korea Investment Partners

Riot Games
127
eSports > Investors > Riot Games

CrunchFund
128
eSports > Investors > CrunchFund

Danhua Capital
129
eSports > Investors > Danhua Capital

Ontario Teachers' Pension Plan
130
eSports > Investors > Ontario Teachers' Pension Plan

WME Entertainment
131
eSports > Investors > WME Entertainment

Wildcat Capital Management
132
eSports > Investors > Wildcat Capital Management

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
133
Incubators
Debt Investors

134
eSports > Investors > Western Technology Investment

KKR
135
eSports > Investors > KKR

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